LeapFrog Enterprises
From Wikipedia, the free encyclopedia
| LeapFrog Enterprises, Inc. | |
|---|---|
| Type | Public (NYSE: LF) |
| Founded | 1995 |
| Headquarters | Emeryville, California, USA |
| Industry | Educational Toys |
| Website | www.leapfrog.com |
LeapFrog Enterprises Inc NYSE: LF is an educational toy company based in Emeryville, California. LeapFrog designs, develops and markets innovative, technology-based learning products and related proprietary content for the education of infant through grade school children at home and in schools around the world.
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[edit] Founded
The company was founded in 1995 by Michael Wood, a Stanford University, and University of California, Berkeley, Haas School of Business (MBA, 1979) and University of California, Hastings College of the Law (JD) graduate, when he found no products on the market that could help his struggling son learn to read. Since then, LeapFrog has developed a number of learning platforms with a broad library of software titles, covering subjects including phonics, reading, writing, and math for grade school children.
[edit] Timeline
On Thursday, July 25, 2002, LeapFrog went public on the New York Stock Exchange where it currently trades under the symbol LF.
Beginning in July 2006, LeapFrog conducted a strategic review of its business. Based on the findings, LeapFrog began implementing significant changes designed to reestablish the company as a growing, profitable and innovative company that delivers consistent financial performance.
Leapfrog is focusing on:
Retaking the reading market. LeapFrog's strategy is to leverage its brand strength with parents and teachers, and to reassume a leading position in this market, which it estimates to be approximately $1 billion in the United States alone. Toward that end, LeapFrog is planning to introduce successor products to the LeapPad line in 2008.
Strengthening the portfolio of products. LeapFrog is rebuilding its product offering for infants to grade school children. The company is building a broad product portfolio including: reading products, educational gaming, and learning toys, all with content designed and tested by educational experts. LeapFrog expects that in 2008 the largest portion of its sales may come from products introduced in late 2007 and 2008.
Providing web connectivity for all core products. The Company believes that web connectivity enhances the play and learning value of its products by expanding game play on its educational gaming systems, providing learning opportunities on reading systems, and offering a system of shared rewards across its product line. Additionally, web connectivity of LeapFrog's products is critical to establishing the LeapFrog Learning Path, an online application that communicates each child’s progress to the parent and the child on his or her “learning journey.” Some products, particularly learning toys designed for infants and toddlers, are likely to remain as stand-alone products in the near future. Today’s lifestyles all around the world are increasingly web-centric: therefore Leapfrog believes it to be essential to design, develop and market its age-appropriate products accordingly.
Refreshing the brand. The LeapFrog brand remains one of the strongest in its category and the Company is taking steps to more broadly differentiate it. The LeapFrog Learning Path product is intended to offer a technological advantage, building on its educational credibility, and will be the foundation for the company's connected product strategy.
Building the business around key technology platform architectures. Leapfrog is simplifying its platform architecture to reduce research and development costs. Focusing on fewer platforms should enable the company to create products more quickly and with less uncertainty surrounding cost and performance. Additionally, fewer development environments should reduce Leapfrog's cost to produce content associated with its products.
Creating a metrics-oriented culture. Management is establishing a metrics-driven culture throughout the organization. Leapfrog's employees have specific and measurable goals that tie directly to its corporate strategies and quantifiable objectives -- metrics – and, (where local regulations permit), its compensation programs are aligned with these goals and metrics and are designed to produce tangible results.
[edit] Products
LeapFrog’s product portfolio focuses on three main families of products:
•Reading Solutions:
o The LeapPad learning system includes devices that introduce basic vocabulary and reading concepts or reinforce second-language learning to preschool and kindergarten children through music, talking characters, engaging narration and interactive play. Historically Leapfrog's most popular learn-to-read product, the LeapPad system, began to be phased out in 2008, in the United States retail markets, and some international markets.
o The Tag learning system, planned to be introduced in mid-2008, is a pen-based reading system which leverages the core technology of optical hardware and optical character reading software first licensed by LeapFrog to be used in LeapFrog's FLY pentop computer. The Tag reading system focuses on fundamental reading skills and offers an extensive library of interactive books. Based upon the company's global sales projections, the launch of the Tag reading system is expected to be one of LeapFrog's largest dollar volume launches to date. The Tag system includes a planned 16 titles at launch, with many popular licensed characters. As a web-connected product, the Tag reader will be LeapFrog Learning Path enabled.
•Educational Gaming and Grade School Products:
o The Leapster multimedia learning systems includes LeapFrog's screen-based, learning device developed to encourage learning skills while allowing kids to play action-packed educational games. The Leapster platform is a handheld device targeted at the 4 to 7 year old, with a multi-directional control pad and a touch-screen enabled by a built-in stylus. The company's Leapster content allows game players to read electronic books, create works of art and watch interactive videos.
o In 2008 Leapfrog plans to introduce the Leapster 2 handheld, a web-connected version of its Leapster handheld that will be LeapFrog Learning Path enabled. Leapster 2 include more online play experience compared to the classic Leapster handheld and will be backward compatible with its existing Leapster software titles. A large software library will be available when the Leapster 2 and didj handheld products launch, including some popular licensed content, such as LucasArts’ “Clone Wars” and “Wall-E” by Pixar.
o Launched in 2007, ClickStart My First Computer introduces computer and preschool skills by turning any TV into a child’s first computer. Designed especially for young learners, ClickStart My First Computer provides a safe computer learning environment.
o In 2008 LeapFrog plans to expand its educational gaming line with the introduction of its didj gaming and learning system. The didj system is a web-connected handheld targeted at 6 to 10 year olds and allows for customization of curriculum and gameplay.
o The FLY Fusion pentop computer is a learning tool designed to help grade schoolers with their homework.
•Learning Toys: These stand-alone products help develop fine motor skills, color, sound and letter recognition for infants through children age five. The products are generally more affordable and simpler to localize for foreign markets than LeapFrog's platform and content suites.
o This category of products includes LeapFrog's popular Learn & Groove line, an interactive collection of instruments that introduce numbers, letters, colors, and shapes through music and song in either English or Spanish. and LeapFrog's Alphabet Pal caterpillar, a musical pull-toy that teaches letter names, letter sounds, learning songs and colors.
o Learning toys include early reading products, such as the Fridge magnetic set products for infants and toddlers, including Fridge Phonics, a magnetic letter set designed for preschoolers and kindergarteners that teaches letter names, letter sounds and learning songs, and the Word Whammer, which challenges young learners to build three-letter words using their knowledge of letters and letter sounds. This device, targeted at children ages 4 to 6, allows them to build more than 300 words through three different modes of play called load a letter, word play and word building. These products introduce phonics, vocabulary skills, and concepts or reinforcing second-language learning to preschool children through music and interactive play.
o Learning Toy products create entry points to LeapFrog's Reading Solutions and Educational Gaming families of products.
[edit] History
LeapFrog was founded in 1995 on the principle of creating educational products that kids love, parents trust, and teachers value. This mission is the guiding philosophy behind LeapFrog's award-winning products. The Company believes that parents play a critical role in their children's learning experience and therefore view them as primary partners in delivering that promise.
[edit] Awards
Industry experts, parenting organizations, and family magazine editors have lauded have lauded Leapfrog's consistently innovative, high-quality, technology-based learning tools. LeapFrog's products have won wide acclaim, winning more than 3350 awards as of March 2008.
